Falmer funding....again

[The Grockle]

Just how much wealth do our board of directors have?

If the club fails to get the funding to start ground work in April could anyone in our board put some money forward with a view to refinance their loan in a more stable financial climate?

I know this question has probably been raised before but many banks have shut up shop in recent months. Funding that was easily secured six months ago, simply isn't now. Is it naive to think that our business plan is strong enough to entice lenders in this climate.

Sorry to drag this bollocks up again but I'm worried!

 

[Djmiles]

I'm not at all worried about the club finding the finances about the stadium, and nor should anyone else!

If Buckingham were that sure we would not be able to finance the construction, they would not have accepted terms.

 

[The Large One]

I don't think anyone has heard anything different after the previous statement, made on the last construction working day of the year - 'funding is now flowing...'

 

[The Oldman]

and the steel has been ordered

 

[The Grockle]

and the steel has been ordered

Really, I wasn't aware of that!

I know little of the construction industry but steel itself and the manafacturing of it must be costing millions?

 

[The Oldman]

Really, I wasn't aware of that!

I know little of the construction industry but steel itself and the manafacturing of it must be costing millions?

Martin Perry said the steel order had been placed by the Buckingham Group and that the price had been agreed between the club and Buckingham. Presumably Buckingham have made a risk assessment as to the price of steel and are happy at the terms agreed in the contract.

 

[champion7]

The funding was all in place and garanteed before Buckingham signed the
handing over contract.

 

[Nottseagull]

If Buckingham were that sure we would not be able to finance the construction, they would not have accepted terms.

I disagree; if there are staged payments throughout the contract, then this would be good business for Buckingham in lean times even if they were unsure that we could see it through.

 

[cjd]

The funding was all in place and garanteed before Buckingham signed the
handing over contract.

The first I,ve heard of this...?

 

[bhadeb]

what concerns me is the way money and work is at the moment for everyone is whether half way through the staduim we get "oh we run out of money"

 

[Twinkle Toes]

Really, I wasn't aware of that!

I know little of the construction industry but steel itself and the manafacturing of it must be costing millions?

I heard a report on the radio (so it must be true) about the cost of steel. Although it was a few weeks ago now, I seem to recall that the price has nose-dived - due to the effects of the wotsit crunch. So you never know, we might be able to get the whole lot for a monkey now, innit.

 

[portlock seagull]

When Falmer is finished and we're playing football each week, people will still question whether we can afford to be playing there the following week as soon as the crowd is only 11,999.

Some people always question and worry about the worst. It pays to be prepared in life, but sometimes people let paranoia take over.

 

[Hatterlovesbrighton]

I disagree; if there are staged payments throughout the contract, then this would be good business for Buckingham in lean times even if they were unsure that we could see it through.

I suppose, but they'll inevitably incur a large number of fixed costs on the project that will be recouped in the later stages.

 

[SICKASAGULL]

Even before the current financial situation our board has shown little evidence of having real cash behind them so I would not hold your breath for the completion of Falmer,statements are made that funding is in place however who is making the loans is not revealed.It would be interesting to view the contract with Buckingham as it could well contain many ifs and buts,it would be useful to the developers merely to try to obtain further business.

 

[Whitterz]

The contract is between the club and contractor. No one else will get to see it. I wish some people would just get a grip, and accept (for now) that we have been told everything is in place. IF things go tits up further down the line, then rightfully people can point fingers and say " I told you so". But in the meantime the stadium is going ahead as scheduled, and until any announcements, we can expect it to be done in 2011. People are right to be cynical, because it has taken SO long to get this far. If we the fans have been told the funding package is in place, then we have to accept that at face value.

 

[Nottseagull]

I suppose, but they'll inevitably incur a large number of fixed costs on the project that will be recouped in the later stages.

That's true, although the extent of it will depend on for how long they think the club can sustain payments eg do they hire that major crane for the whole construction period, or do they just book it again after each stage (obviously the more expensive option, presuming successful completion).

 

[The Large One]

I heard a report on the radio (so it must be true) about the cost of steel. Although it was a few weeks ago now, I seem to recall that the price has nose-dived - due to the effects of the wotsit crunch. So you never know, we might be able to get the whole lot for a monkey now, innit.

According to Martin Perry, it has come down recently, which, if this is the case and it continues to fall, means that, to a small extent, Buckingham Group have had a wee bit of a result.

 

[Nottseagull]

According to Martin Perry, it has come down recently, which, if this is the case and it continues to fall, means that, to a small extent, Buckingham Group have had a wee bit of a result.

A world recession, with the inevitable tumbling of the metal exchanges was on the cards before the contract was signed, so I don't know if the club pushed for any downward adjustment. The arches were abandoned only because of the rise in the steel price, so if the price reverts to near it's former level, we will have lost out big-time.

 

[BensGrandad]

One man with very close connections to the club could pay for Falmer and just put a dent in his personal wealth. I am not saying that he will but he could if he wished.

 

[The Grockle]

One man with very close connections to the club could pay for Falmer and just put a dent in his personal wealth. I am not saying that he will but he could if he wished.

This is what i was wondering. Could this person not put the money forward and then get paid back when it was easier and cheaper to borrow such a large sum